Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Sep
Source: Bse
AWL Agri Business Limited (AWL)
Large CapFMCG stocks · Large cap · NSE
AWL Agri Business Ltd. is transitioning from an edible oil leader to an integrated Food & FMCG platform. It leverages its scale, sourcing, and extensive distribution to build a diversified everyday consumption platform, serving India across key kitchen categories with brands like Fortune.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result30 Jul, 11:01 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · FMCG P/E 37.8 (n=42)
Technical timing lens
Trend score and candlestick chart
23Bearishfull bear SMA stack · SMA20 -3.8% / mo · MACD + · near 52W low · sector -4.5pp vs Nifty 500 (3M)
Stock trend: 26
Sector RS: 18
Sector 3M: -10.2% vs Nifty 500 -5.6%
FMCG FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
AWLD candles · FIT view-8.7%Latest close ₹180.62 on 2026-10-19
Bar
-3.6%
RSI
44
MACD hist
0.64
52W pos
8%
2026-10-19O ₹187.30H ₹187.93L ₹179.20C ₹180.62Vol 50.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
AWLNifty FMCGNifty 500
- AWL
- -4.6%
- Nifty 500
- -5.6%
- Nifty FMCG
- -10.5%
- Vs Nifty 500
- +1.0 pp
Chart stats
19 Oct 2026- From 52W high
- -36.2%
- 52W range position
- 8%
- ATR (14)
- 3.2%
- Volume vs 20D
- 2.12x
- Avg traded value
- ₹46 Cr
- 20D price channel
- ₹172.6 - ₹198.5
₹282.9
₹171.2 - ₹282.9
₹5.8
Latest completed session
20-session average
30.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management trust is supportive, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE47
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +17.5% · PAT +47.5% YoY
Technical
Bearish23
Price trend and sector-relative-strength timing.
Valuation
Legacy model-3.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Healthy Trust79
medium confidence · 4/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +18% YoY · PAT +47% YoY · margin expansion · operating leverage
Filed 30 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹20,048 Cr | +17.5% | -6.6% |
| EBITDA | ₹693 Cr | +89.3% | +32.3% |
| Operating margin | 3.5% | +140 bps | +110 bps |
| PAT | ₹351 Cr | +47.5% | +19.8% |
| PAT margin | 1.8% | +35 bps | +38 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 20.80
- P/B
- 2.34
- EV/EBITDA
- 8.76
- Market Cap
- 24468.00Cr
Profitability
- ROE
- 10.70%
- ROCE
- 18.30%
- ROA
- 4.68%
- Dividend Y
- 0.53%
Growth (CAGR)
- Revenue 5Y
- 15.00%
- EPS 5Y
- 8.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 22.00%
Balance Sheet
- Debt/Equity
- 0.11
- Interest Coverage
- 3.35×
- Altman Z
- 5.09
- Book Value
- 80.30
Cash Flow
- FCF Yield
- 11.57%
- FCF Positive Y
- 7/5
- OCF
- 3928.00 Cr
- EPS TTM
- 8.90
Shareholding
- Promoter Hold
- 56.94%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 15%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 20.0k-6.6% vs prev
Net Profit
₹ CrLatest: 351+19.8% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 44.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~3.9% over last month) — short-term momentum negative.
- RSI(14) at 44 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 36% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
22
RS percentile
Stage 1 Base / Transition
1M return
-3.4%
3M return
-4.6%
6M return
-9.5%
1Y return
-32.7%
RS 1D
-8
RS 20D
+4
Sector rank
#15
Industry rank
-
Stage evidence
- Price is within 4.6% of the 30-week proxy.
- The 30-week proxy changed +0.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 71.19-2.56%
RS vs Nifty 50071
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation8/30
Growth11/25
Quality3/20
Balance Sheet9/15
Cash Flow10/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
47
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
47/100 · legacy band FAIR VALUE
Positive drivers
- FCF yield is supportive at 11.6%.
- Piotroski is strong at 7/9.
- Cash flow contributes 10/10 to the score.
Main drags
- Fair-value margin of safety is negative at -3.8%.
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Valuation is weaker at 8/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
20.8
PB
2.3
EV/EBITDA
8.8
ROE
10.7%
ROCE
18.3%
FCF Yield
11.6%
Debt/Equity
0.1
MoS
-3.8%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
47
Previous: 47
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-3.8%
Previous: -3.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
46
46
46
46
46
47
47
47
47
47
47
47
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹126.81
-42.4% MoS
Growth-justified P/E
19.6
Growth-justified Value
₹174
-3.8% MoS
PEG
1.63
Comparable companies
Peers
Business-comparable peers in FMCG — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GOKULAGRO
Micro
Gokul Agro Resources Limited
Agro Processing
match 78
77
15.0
30.0%
+67%
DEEP VALUE
ROML
Small
Raj Oil Mills Limited
Agro Processing
match 61
12
15.7
—
-189%
OVERVALUED
GOKUL
Small
Gokul Refoils and Solvent Limited
Agro Processing
match 59
28
18.1
4.9%
-208%
OVERVALUED
BALRAMCHIN
Large
Balrampur Chini Mills Limited
Agro Processing
match 56
23
41.1
9.5%
-601%
OVERVALUED
EIDPARRY
Large
EID Parry India Limited
Agro Processing
match 56
34
15.2
7.8%
-57%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T07:41:35.636Z
Management commentary snapshot
AWL reports FY26 revenue of ₹74,730 Cr, with Food & FMCG revenue at ₹6,400 Cr, growing 3x in 5 years. Overall volume grew 2.2x, revenue 4.2x, EBITDA 5.8x, and PAT 19.2x over the last decade, driven by diversification and distribution expansion.
AWL is successfully executing its transition from an edible oil major to a diversified Food & FMCG platform, evidenced by strong growth in food volumes and revenue. Leveraging its robust distribution and brand equity, the company is well-positioned to capitalize on India's underpenetrated branded staples market, despite competitive pressures.
Current business mix
Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Edible Oil62.0%
Food & FMCG18.0%
Industry Essentials20.0%
Growth engines
Scaling Food & FMCG Portfolio
Food volume mix increased 3x in the last decade; Food revenue grew 3x in 5 years to ₹6,473 Cr in FY26.
Leveraging Distribution Network
Gradually leveraging edible oil distribution to scale Foods business, covering 2.6 Mn outlets and 60,000 rural towns.
Premiumization & Value-Added Products
Conscious efforts on premiumization of portfolio, expanding into health & convenience categories like Multigrain Atta, Brown Rice, Biryani Kit.
Strategic Acquisitions
Acquisitions like GD Foods (Tops brand) strengthening portfolio in sauces & condiments with >50% gross margins.
Capacity and execution
Total Manufacturing Capacity
70+ plants (incl. 24 own units) with > 6.5 Million MT combined capacity.
Oleochemicals Capacity Expansion
Key focus is to expand and further invest in capacity expansion for high margin Specialty Chemicals business.
Food Capacities
Plan to build Food capacities at existing manufacturing units.
Tailwinds
Underpenetrated Staples Market
India's staples consumption story is underpenetrated with low branded penetration (c. 15%) and large TAM of ₹7.4 Lac Crore.
Structural Growth Drivers
Urbanization, rising income levels, and aspirations driving ~10% growth in per capita foods.
Loose to Branded Conversion
Consumers shifting from loose to branded products, allowing AWL to replicate its oil playbook in foods.
Aspirational Rural Upgrade
Upgrade towards premium brands is happening faster in smaller towns and rural areas.
Risk radar
Commodity Price Risk
Hedging via futures, options & forward contracts to manage price volatility.
Supply Risk
Multi-origin sourcing; no single-country dependency to mitigate supply chain disruptions.
Regulatory Risk
Real-time compliance tracking on import duties & policies.
Currency Risk
Robust treasury management frameworks to manage currency fluctuations.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The document primarily presents financial and operational data over multi-year periods (FY16, FY21, FY26) and discusses long-term trends and strategic shifts, making year-over-year comparisons most relevant for assessing business evolution and growth trajectory.
Sector KPIs management disclosed
FY26 Total Revenue
₹ 74,000 Crore
FY26 Food Revenue
₹ 6,400 Crore
Food Volume Mix Evolution
Increased 3x in the last decade (FY16-FY26).
Total Outlets (FY26)
2.6 Million outlets.
Management forward view
Vision 2030 Total Revenue Target
Targeting ₹1 Lac+ Crore total revenue by 2030.
Vision 2030 Food Volume Share Target
Aiming for 2x food volume share by 2030.
Vision 2030 ROCE Target
Targeting >25% ROCE by 2030.
Margin Improvement Focus
Improve overall margins through premiumization of Oils & Food portfolio, cost saving & sales mix initiatives.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Food & FMCG Revenue Growth | ₹6,400 Cr in FY26 (3x in 5 years) | Sustained double-digit growth and increasing contribution to total revenue. |
| Foods Gross Margin | 20% in FY26 | Continued improvement towards potential 25-30% for core staples and >40% for value-added segments. |
| Distribution Reach (Food Outlets Billed) | 60,000+ in FY26 | Expansion into more rural towns and increased penetration in alternate channels (e-Com, MFS). |
| ROCE | Not explicitly stated for FY26, but target >25% by 2030 | Progress towards the >25% ROCE target, indicating efficient capital deployment. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
revenue outlookdeliveredquantified
AWL targets to achieve mid-single-digit volume growth in edible oil.
Timeframe: as we go forwardDirection: growthConfidence: target
"that's what we target to achieve, which is mid-single-digit growth in edible oil"
Outcome check: Revenue YoY averaged 14.1% across 2 later quarter(s).
revenue outlookdeliveredquantified
GD Foods is expected to grow in double digits on both volume and revenue in H2.
Timeframe: H2Direction: growthConfidence: should see, growing
"this company growing in double digit on volume as well as revenue"
Outcome check: Revenue YoY averaged 14.1% across 2 later quarter(s).
demand outlookdelivered
Soya nuggets volume/offtake is expected to recover fully in the next quarter.
Timeframe: next quarterDirection: recoveryConfidence: should be recovered fully
"as we go forward in the next quarter, it should be recovered fully"
Outcome check: Revenue YoY averaged 10.5% across 1 later quarter(s).
operational efficiencydelivered
Working capital levels will get normalized in the next quarter, and we will see the benefit of the inventory, which is procured earlier finally delivering in the next quarter.
Timeframe: next quarterDirection: improvementConfidence: will get normalized
"working capital levels will get normalized in next quarter"
Outcome check: OPM moved from 4.0% to average 3.0% (-1.0 pp).
Trust Score
79Healthy Trust · medium confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 100% delivered/partly-delivered outcomes on 4 checked claims. It ranks around the 88th percentile of the scored universe and 70th percentile within FMCG. No major sub-score weakness stands out.
High Trust: 4/4 extracted management claims have outcome checks; 100% were fully delivered and 0 were partially delivered. 4/4 matched management claims were delivered.
Computed 20 Oct 2026
management-trust-v1
32 extracted concalls · 4/4 claims matched
Score band
Healthy Trust
Generally investable credibility. Look for weak sub-scores before increasing position size.
Relative rank
88th percentile
overall median 67 · FMCG: 70th pctile, median 79 · Large: 74th pctile, median 73
Evidence depth
Early sample
4/4 claims checked. Use as directional, not final.
Claim delivery
100% delivered or partly delivered
4/4 claims checked · No contradicted claim yet
How to read this Trust Score
Healthy Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
68
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 56.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 11.6%.
- ▸7 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Continue researching AWL Agri Business Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 27 Aug - CARE reaffirmed AWL's ratings: AA-/A1+ on ₹18,111 crore, ₹1,230 crore and ₹500 crore facilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 25 Aug - AWL launches Fortune Yellow Mustard Oil, initially targeting Delhi NCR, Punjab and Haryana.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 9 Jul - AWL backs regenerative mustard programme expansion after yields rose up to 30% in 2025-26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Jun
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 15 Jun
Source: Bse
Annual report
Regulation 34(1) Annual Report 13 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Jun - Newspaper advertisement of 28th Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 May
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 May - Intimation of Investor Day 2026 for Institutional Investors and Analysts- Revised Intimation
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 May - Intimation of Investor Day 2026 for Institutional Investors and Analysts
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.